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Case Study

How Socotra enabled CoverTree to achieve 30% lower total cost of ownership while supporting significant growth

How Socotra enabled CoverTree to achieve 30% lower total cost of ownership while supporting significant growth

How Socotra enabled CoverTree to achieve 30% lower total cost of ownership while supporting significant growth

Socotra
Pages 7 Pages

CoverTree, a Michigan-based insurtech MGA, partnered with Socotra to offer affordable, digital-first insurance for manufactured homes. Facing high costs and inefficiencies with other core platforms, CoverTree selected Socotra for its open APIs, flexible architecture, and low total cost of ownership. The platform enabled a six-month launch across five states, 90% straight-through processing, and 30% cost savings. With AI-powered automation and seamless integrations, CoverTree reduced staffing needs, improved customer experience, and scaled rapidly—growing from \$40K to \$5M in GWP in one year, with a five-year goal of \$100M.

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